William Allan Corp Trims Position in Stryker Corporation $SYK

William Allan Corp decreased its position in shares of Stryker Corporation (NYSE:SYK) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,735 shares of the medical technology company’s stock after selling 96 shares during the quarter. William Allan Corp’s holdings in Stryker were worth $1,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Brighton Jones LLC lifted its stake in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Stryker by 7.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,258 shares of the medical technology company’s stock valued at $16,162,000 after buying an additional 2,892 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Stryker by 24.1% during the first quarter. Golden State Wealth Management LLC now owns 247 shares of the medical technology company’s stock valued at $92,000 after buying an additional 48 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in shares of Stryker by 1.6% during the first quarter. Avidian Wealth Enterprises LLC now owns 2,722 shares of the medical technology company’s stock valued at $1,013,000 after buying an additional 42 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Stryker by 1.2% during the first quarter. Amalgamated Bank now owns 71,932 shares of the medical technology company’s stock valued at $26,777,000 after buying an additional 824 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays increased their price target on shares of Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Truist Financial cut their price target on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Rothschild Redb raised shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Wells Fargo & Company increased their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday, October 13th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $432.24.

Stryker Price Performance

SYK opened at $383.56 on Tuesday. The company has a fifty day simple moving average of $379.87 and a 200 day simple moving average of $380.29. The firm has a market cap of $146.64 billion, a price-to-earnings ratio of 50.80, a PEG ratio of 2.75 and a beta of 0.94. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.